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as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i feel that i give part of it to my charitable deductions. host: would you still make donations to charity if you could not write it off on your taxes? caller: yes, i would. host: thank you for your call. joe? caller: i would be willing to give up earned income credit and i liked what the last caller said about modifying the amount for charitable deductions. i think that sometimes the very rich use that to give to charities that actually benefit themselves. i also have a contingency, which would be to reform the bankruptcy act and remove those benefits for companies that were put in
as part of this so-called fix -- fiscal cliff, what tax deductions would you give up? fort lauderdale, hello. caller: hello. good morning. i feel that i would be willing to give up some of my medicare benefits. i currently get free shoes and other benefits from medicare that i would be willing to give up. host: anything that you would be willing to give up on your taxes? items that you have in the past? caller: i would be willing to give up my charitable deductions. host: how come? caller: i...
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taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending on them is overtly far beyond its necessity. >> stephanie: it is more than the military asks for. congress is trying to give them more. >> to do what with? it is not like they're not ahead technologically from -- on every front. >> but we need to be able to blow up the world 150 times not 147. >> stephanie: otherwise we're french and gay. ron in illinois, you're on "the stephanie miller show." hi ron. >> caller: good morning, steph. >> stephanie: good morning. >> caller: i don't understand why john boehner think -- unless he's
taxes, fiscal cliff. why do you have to bring in social security and medicare and fix something that's not broke? >> stephanie: social security's case, we keep saying doesn't add a penny to the deficit. >> it is absurd. if you're going to curtail something or act like something is horribly busted, then i would say the military expenditures that go into effect because of the sequestration actually are something that's a crucial. they're going to drop off immediately and the spending...
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Dec 12, 2012
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and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have lobbyists and probably sent them over to the white house and capitol hill and they got the $25 billion that the extra americans don't get, the special deal. how do we know we aren't getting totally scammed by the insurance companies? >> the insurance companies obviously a lot of them wanted obamacare because they sell a product. >> risk. they sell risk. >> and the law -- >> or buy risk. >> and the leforss all ever us to buy their product. if we don't have enough money to buy their product, the law gives taxpayer paid subsidies to buy their product. what's not to like for them? they are pr
and these taxes are going up regardless what have happens with the fiscal cliff. these tacks are written in obamacare. and if taxes do i- deed go up on the top two brackets as a result of the fiscal cliff, that will be on top of the obamacare taxes. >> is there any way for us, the nation, to police the earnings or profits are insurance company under obamacare? there are all of these extra, they get the extra deals. now the insurance companies get the extra deals because they have...
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irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terrorists. mexican drug cartels, african dictators, all of the really nice people that they had no idea where problem. by the way, nobody going to jail will be taking that up. we will have coming up next. tracy: all right, "lou dobbs tonight" at 7:00 p.m. and 10:00 p.m. eastern. when we come back, how to beat the street. covering your assets with tips with picking winners on wall street. stay with us you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, l
irrespective of the fiscal cliff, we are going to have $270 billion in tax hikes that start effective january 1. thank you, obamacare. nancy pelosi has said that if you want to find out what's in it, just pass it. we are finding out and we are going to have a terrific group of people, including john cruz, the vice president of hsbc, who is the whistleblower on the $1.9 billion in fines if they just had to pay for money laundering along with middle eastern terrorists. mexican drug cartels,...
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president obama and house speaker john boehner talked by phone today about the so-called fiscal cliff-- those tax hikes for most americans and massive spending cuts that will kick in the first of the year unless two strike a budget deal. a republican source tells us that the president has cut his demand for more tax revenue from $1.6 trillion to $1.4 trillion, but the source said that the lower figure is no more acceptable to republicans. but the negotiations continue in private. the united states has a lot at stake in the syrian civil war. president obama has suggested that american firepower might be needed to prevent the dictatorship from using chemical weapons. we've learned that tomorrow the administration will endorse one of the rebel groups that is now fighting to overthrow bashar al- assad. who are these new american allies? clarissa ward found their leader in brussels. >> reporter: moaz al-khatib is the man chosen to lead a newly formed coalition of syria's opposition groups. what does it mean to be recognized by the u.s.? "the u.s. administration has big influence globally"
president obama and house speaker john boehner talked by phone today about the so-called fiscal cliff-- those tax hikes for most americans and massive spending cuts that will kick in the first of the year unless two strike a budget deal. a republican source tells us that the president has cut his demand for more tax revenue from $1.6 trillion to $1.4 trillion, but the source said that the lower figure is no more acceptable to republicans. but the negotiations continue in private. the united...
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and tax analysts say the estate tax is just too complicated to tackle in the fiscal cliff negotiations. >> if we get to a comprehensive reform of the tax system and we say, "okay, here is the income tax. this is what we are going to do. now, we need an estate tax to back it up," maybe you could change the estate tax in that setting. but just one off, i think that's hard to do. >> reporter: if congress doesn't act soon, the current $5 million estate tax exemption will fall to $1 million on january 1, though it is unlikely to stay there for long. darren gersh, nbr, washington. >> susie: the fiscal cliff was certainly one topic on the agenda of the federal reserve today as policymakers kicked off their two-day meeting. tomorrow, the world will be waiting to see whether the central bank will do more to prop up the u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans,
and tax analysts say the estate tax is just too complicated to tackle in the fiscal cliff negotiations. >> if we get to a comprehensive reform of the tax system and we say, "okay, here is the income tax. this is what we are going to do. now, we need an estate tax to back it up," maybe you could change the estate tax in that setting. but just one off, i think that's hard to do. >> reporter: if congress doesn't act soon, the current $5 million estate tax exemption will fall...
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. >> despite the fact he says i'm willing to let us go over the fiscal cliff. just quickly, this is dovetailing what you said before. if the republicans have to take it on the chin with their base for talking about taxing the rich, could they be now discussing in broad terms how to at least say the democrats, you're going to take the hit for medicare, then? >> the deeper structural issue is this. this is not the first fiscal cliff. we have a fiscal cliff every year with renewing the amt, with fixing the medicare payment rate, the so-called doc fix. we make policy in a crazy way in this country. what i think republicans are trying to do is say let's look at structural solutions that can lower the cost of these programs over the long term rather than doing a patch at the last minute every darn year. that's the way we make policy and it is absolutely crazy. >> amen. >> don't go out tonight. we could have further details breaking as we speak. thanks to both of you. >>> coming up next, on "outfront" it's been exactly three months, three months, since terrorists atta
. >> despite the fact he says i'm willing to let us go over the fiscal cliff. just quickly, this is dovetailing what you said before. if the republicans have to take it on the chin with their base for talking about taxing the rich, could they be now discussing in broad terms how to at least say the democrats, you're going to take the hit for medicare, then? >> the deeper structural issue is this. this is not the first fiscal cliff. we have a fiscal cliff every year with renewing the...
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throw the fiscal cliff which could potentially raise taxes dramatically. that is big reason we see a lot of consumers aren't spending as much. a lot of companies are not hiring. you're not seeing unemployment fall. we don't know. this $63 again doesn't sound like a lot of money. i'm not going to be surprised next couple years if we see a lot more of these fees really sneaking up on us. i love the administration, say most likely will go away unless congress extends it. how much do we see it could end up being twice as much. martha: you can't see congress going, oh, my gosh, 2017, time to bring back the $63, it's done, not going to happen? thinking around the holiday thinking but know that will not happen. martha: anyone can find an example where congress said, you know what, we shouldn't have this money anymore, please tweet me @marthamaccallum. remind me. that will be inspiring moment. matt, thank you. you're busy this time of year. everybody is doing everything they can to avoid changes at the beginning of the year. good to see you. >> thanks. bill: time
throw the fiscal cliff which could potentially raise taxes dramatically. that is big reason we see a lot of consumers aren't spending as much. a lot of companies are not hiring. you're not seeing unemployment fall. we don't know. this $63 again doesn't sound like a lot of money. i'm not going to be surprised next couple years if we see a lot more of these fees really sneaking up on us. i love the administration, say most likely will go away unless congress extends it. how much do we see it...
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this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing with, it is called a constitutional body of government. >> it is john's right, this is politics, hard and fast, 1995 all over again, stakes are high and and president wants house back, pin the blame on the republicans make them look like right wing lunatics and grab the chips, they are in a no-win position. lou: we'll be back, marianne has to weigh in and a bunch more as we continue with the a team stay with us. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the merced
this is a game of chicken, which i think is designed to go over the fiscal cliff, and pin the blame on the republicans, i understand why the president is doing it for political reasons but i don't think that the republicans have to surrender themselves in this game of chicken. lou: it seems the ultimatum, raise taxes on top 2%, why not let him eat to, it is his decision, go for it, if you don't want a mature, and intelligence, and responsible negotiation, you do not know who you are dealing...
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cliff negotiations, immigration reform has become like taxes and spending. do you do it step-by-step, which is what the republicans like, because they'd like to show they are tough on security and there isn't a legal path to citizenship for illegal immigrants, or do you do the whole thing all together? if i were carl rove, which isn't something i imagine myself being often, i would knock on the door of olympia snowe and say what are your lessons for us? >> fun conversation. >> that would actually be a fun conversation. we hope that carl rove, if you're listening, takes that advice. >>> coming to the recent data, planned parenthood provides less than 5% of resources to abortion services, but that's not stopping republicans in their quest to defund the organization entirely. we'll head to the lone star state and take a look at the eye of the storm just ahead. >>> lauren wanted to introduce cabbage to mainstream america. she created mother-in law's kimchi. for more, watch 7:30 on msnbc. we are gathered here today to celebrate the union of tim and laura. it's am
cliff negotiations, immigration reform has become like taxes and spending. do you do it step-by-step, which is what the republicans like, because they'd like to show they are tough on security and there isn't a legal path to citizenship for illegal immigrants, or do you do the whole thing all together? if i were carl rove, which isn't something i imagine myself being often, i would knock on the door of olympia snowe and say what are your lessons for us? >> fun conversation. >> that...
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president obama is begin talking his fiscal cliff plans today. he will be on a conference call from the white house with a bi-partisan group of mayors and community leaders. the group will focus on how to prevent taxes from going up from middle class americans along with finding ways to grow the economy and reduce the deficit. turning to syria this morning, president obama is now stepping up pressure on bashar asaad with his official recognition of syria's opposition group. here with an interview with barbara walters. >> we have made a decision that the syrian opposition coalition is inclusive enough is reflective and representative enough of the syrian population that we consider them the legitimate representative of the syrian people in opposition to the outside regime. >> again, that's come from an exclusive interview yesterday with abc's barn with a walters. u.s. security officials are monitoring syria in case asad will use chemical weapons against his own people. other world leaders are expected to recognize the opposition. they say they wil
president obama is begin talking his fiscal cliff plans today. he will be on a conference call from the white house with a bi-partisan group of mayors and community leaders. the group will focus on how to prevent taxes from going up from middle class americans along with finding ways to grow the economy and reduce the deficit. turning to syria this morning, president obama is now stepping up pressure on bashar asaad with his official recognition of syria's opposition group. here with an...
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they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balancing risks. they do not want to risk the recovery that we have underway already, even though it is slow. i expect two things. first, they will not change policy. they will continue quantitative easing. they will probably stop operation twist. simply because they do not have anyone short-term securities of any significance to sell. they will continue the asset buying programs as a hedge against going over the cliff. connell: all these names that we have become familiar with, you mentioned operation twist and quantitative easing, one, two, three, the speculation about four. basically, easy on it. policy. you are telling us, and a lot of people expect, they are worried about what the fiscal people are doing or not doing. >> they do not have to with interest rates so low. >> well, that is the trade-off. a lot of people think that
they say we are over the fiscal cliff, unless tax rates go up. the sign will come from the fed. we will know in the next 90 minutes. former atlanta fed joins us now. how is the decision connected, do you think, to the fiscal cliff? >> it has to do with balancing risks. they do not want to risk the recovery that we have underway already, even though it is slow. i expect two things. first, they will not change policy. they will continue quantitative easing. they will probably stop operation...
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the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent itself. >> susie: that and more tonight on nbr! >> tom: an agreement to ease the fiscal cliff may not be wrapped up and waiting under your tree for christmas. senate majority leader harry reid said today it would be hard to get an agreement finished by the holiday, blaming the delay on republicans. not surprisingly, republicans say the president hasn't gotten serious about the talks. plenty of outside groups are offering up suggestions. and as darren gersh reports, they include warren buffett and some other big names in finance. >> reporter: there was some public movement in the fiscal cliff s
the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box company is using them to reinvent...
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the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box mp
the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box mp
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the president's plan does not fulfill what he calls a balanced approach to ending the fiscal cliff. tax hikes, increases, that's what he says this all amounts to for the president, increases in taxes, and he is not trying to reduce spending, and that's important to the republicans. he said for five weeks -- this is according to john boehner -- he's been reaching out to the president but the president has not given a serious proposal. then eric canter echoing those sentiments as well. and if we do go over the fiscal cliff, many in the polls will blame republicans. so after the phone call last night, this is all about messaging, trying to stem the tide of people who believe the republicans are responsible for putting us over the fiscal cliff if that, indeed, does happen. this is about messaging, this is about posturing as well, getting the message across. our dana bash is standing by and she will update us on that as well, what the president said and what the republicans said behind the scenes. >>> we're also following details of that deadly mall shooting in portland, oregon. panicked
the president's plan does not fulfill what he calls a balanced approach to ending the fiscal cliff. tax hikes, increases, that's what he says this all amounts to for the president, increases in taxes, and he is not trying to reduce spending, and that's important to the republicans. he said for five weeks -- this is according to john boehner -- he's been reaching out to the president but the president has not given a serious proposal. then eric canter echoing those sentiments as well. and if we...
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we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best, budgetary bluff? yeah, the bar's been set very low. >>> up next, we'll huddle around the water cooler, where jon stewart stepped out of his comfort zone with an eminem-inspired rap for the michigan protesters. >>> well, enough with the real news. let's gather around the water cooler. and first, a little moment of silence. louis louis, who wouldn't miss a second of on-camera opportunity has been talking to the porcelain god all night. not sure why. we wish you the best, louis. see you tomorrow morning. >>> well, a day like today won't come around for another 89 years. it's 12/12/12. no, it's not a sign of the apocalypse, but th
we'll discuss the fiscal cliff with our "morning joe" panel. >>> and now, mercifully, i need your help. are you with me on this one? the phrase fiscal cliff, i'm over it, time's up, date reached on the expiration, nails on the chalkboard annoying. can't we be a little more creative? this is where you come in. e-mail your alternative to the phrase "fiscal cliff," and i'll use the best one tomorrow on our show. we won't use fiscal cliff, i promise. so far, my best,...
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the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff." "we have been calling on the speaker to bring forth a middle-income tax cut now for a very long time - in fact, since last summer when it passed the united states senate." here's a side-by-side check of where they stand: the president's plan calls for a raising $1.6 trillion in revenue by boosting tax rates on the incomes above $200,000 for individuals and $250,000 for couples. president obama also recommends $400 billion in spending cuts. representative boehner's calls for $800 billion in new revenue, $600 billion in savings from medicare and medicaid, and $300 billion from other domestic programs. in a big slip for small business, confidence took a tumble in november. the national federation of independent business says its confidence index of small biz owners dropped 5.6 points last month - that's one of the largest drops the study has ever shown. the group says the fiscal fiasco in washington, along with the upcoming healthcare overhaul, is shattering optimism within the sector. h
the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff." "we have been calling on the speaker to bring forth a middle-income tax cut now for a very long time - in fact, since last summer when it passed the united states senate." here's a side-by-side check of where they stand: the president's plan calls for a raising $1.6 trillion in revenue by boosting tax rates on the incomes above $200,000 for individuals and $250,000 for couples....
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i do not want us to go off the fiscal cliff, congress created in a bipartisan way this is the result of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases do nothing to self, you have 200,000 less jobs next year for, that those who vote for that will be held responsible for that decision. neil: is it terrible public policy if you leave off the table. what accounts the majority of spending off the table. if you leave out medicare, and medicaid, and don't even pry to bridge up -- try to bring up social security, 8 democratic members and congressmen marked that, don't touch these entitlements, one of next. ♪ [ gine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter ent back, with the perfect vehicle that's just right for you, no matter which list you'r
i do not want us to go off the fiscal cliff, congress created in a bipartisan way this is the result of the last fiscal cliff. neil: both sides agreed. >> i voted against it, it was a bad idea, why create artificial crises to force action. neil: they did. >> now the country -- now they want to do it again, now let's hurt growth in economy, and cut a deal that hurts growth,o from a year from now we'll have a worse fiscal cliff. we have a 16 trillion-dollar debt. these tax increases...
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in the fiscal cliff debate, tax is a big part of that. where do you stand on that if you are anti tax? >> anti tax, but not anti common sense. it's obvious to me what the president is trying to do is the right thing to do. sometimes you have to have revenue in order to fill the hole. that's what president obama is trying to do and he's right on the mark. i support what he's doing. we have to watch spending too. common sense is really what i think americans want and what they believe in. what i believe in. and i think when you apply common sense to any issues, we can have common ground and move forward as a nation, do what's right and have a better future for all of us. >> governor crist, margaret hoover here. what you are saying sounds great, but republicans would say it sounds like political tunism at the cost of principal. you are becoming a democrat because there is no political future for you in florida as anything else. what do you say back to them? >> a lot of cynics in politics. and we recognize that. that's unfortunate. in order t
in the fiscal cliff debate, tax is a big part of that. where do you stand on that if you are anti tax? >> anti tax, but not anti common sense. it's obvious to me what the president is trying to do is the right thing to do. sometimes you have to have revenue in order to fill the hole. that's what president obama is trying to do and he's right on the mark. i support what he's doing. we have to watch spending too. common sense is really what i think americans want and what they believe in....
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i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through
i do not believe we will fall into the fiscal cliff meaning that neither party will let the tax cuts expire. i think republicans are going to stay at a retreat and voting to extend the middle class tax cuts. that will avoid the miss kal cliff situation. and i may not like this deal at all. one reason stocks are behaving wellky well. speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are...
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in a sense what we are talking about with the fiscal cliff where there may be a deal on tax rates and later next year deal with entitlements in the deficits and debt ceiling and the other issues facing us. would you support backing away from a comprehensive legislation to perhaps piece meal it together or are we past that at this point with so many millions of people in the country illegally? >> there is a consensus growing that piece meal doesn't work. every time we had an individual element of the comprehensive immigration reform and taken one piece and putting it on the floor, it becomes where everybody else wants to add on. if you put ag jobs on the floor for the agriculture industry, the high tech industry said wait a minute, we need visas for high tech workers. site food industry said we need the low visas for ship hands. then you have the hotel and restaurant industry. you have a series of elements that become a demand. you are back to trying to solve the problem comprehensively. there is a agreeing consensus that we have to achieve through comprehensive reform. what that pathw
in a sense what we are talking about with the fiscal cliff where there may be a deal on tax rates and later next year deal with entitlements in the deficits and debt ceiling and the other issues facing us. would you support backing away from a comprehensive legislation to perhaps piece meal it together or are we past that at this point with so many millions of people in the country illegally? >> there is a consensus growing that piece meal doesn't work. every time we had an individual...
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by the way, california fell off the fiscal cliff. i don't know what shall is talking about. 14.3% if you make the millionaires new price range of $250,000, so, people are leaving. talk to a surgeon the other day, closed up shop, sold his house and is leasing a home in las vegas. he says he couldn't take it anymore. stuart: but this is a historic reversal. look i've been in america 40 years and started out in san francisco 40 years ago and back in those days, there was always a net migration into california, significant numbers. california gained tens of millions of people over my time in america, but that just recently has been completely reversed. now there's a net leaving of people. and that's historic in america, that's historic. >> it is historic. it is historic because you come here, as i said for the weather, but that's it anymore and there's no promise of a future. don't promise that you're going to be able to put down your stake and really do something with it. look at the head of facebook, one of the partners left not only t
by the way, california fell off the fiscal cliff. i don't know what shall is talking about. 14.3% if you make the millionaires new price range of $250,000, so, people are leaving. talk to a surgeon the other day, closed up shop, sold his house and is leasing a home in las vegas. he says he couldn't take it anymore. stuart: but this is a historic reversal. look i've been in america 40 years and started out in san francisco 40 years ago and back in those days, there was always a net migration...
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in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a good point, and i agree that instabilit and monetary policy is not very effective, and so i' not looking for very much from the fed tomorrow. tracy: no, yao not alone, sir. wayne, former fed reserve governor, thanks for taking the time. >> you're welcom. tracy: all right. well, if you are fired up about this or any of theissues on the program, drop the show an e-mail at gerri@foxbusiness.com. >>> coming up on "the willis report," house speaker boehner and the republican accusing president obama of kicking the can down the road. >> t longer they slow down the process, the closer our economy gets to th
in regard to the fiscal cliff, i think the right thing to do is to let the tax rates go up across the board, just like they agreed to do. i think we ought to have middle income americans as well as high income americans having a reduction of those tax rate cuts we saw. tracy: take more from my paycheck, let the fed put money into the system. does it make sense at the end of the day? shouldn't i keep my money, g out there and spend it and let the fed keep theirs? >> well, that's, you got a...
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more details now on how a fall off that fiscal cliff would affect taxpayers. the nonpartisan tax foundation says an average family of four would pay an extra $7,400 in taxes. looking at specific cities here, people in san francisco and oakland would pay an extra $7,424 in san jose it would be 7,352. and in santa rosa, $3,333. now to wall street where stocks today moved into positive territory. the dow clos up 78 points. >>> there were more jobs advertised in september than october. job openings rose by 128,000 to 3.68 million in october that is the most since june. and in a separate report last friday, the government said employers added 168,000 jobs last month. >>> michigan became the 24th state in the united states to pass right to work laws. hundreds of union members rallied at the state capital in lansing. michigan is a union stronghold where the united auto workers were founded. the bill was voted by rick schneider. they ban unions from requiring private or public sector workers to join the union as part of their employment. this new law will result in lo
more details now on how a fall off that fiscal cliff would affect taxpayers. the nonpartisan tax foundation says an average family of four would pay an extra $7,400 in taxes. looking at specific cities here, people in san francisco and oakland would pay an extra $7,424 in san jose it would be 7,352. and in santa rosa, $3,333. now to wall street where stocks today moved into positive territory. the dow clos up 78 points. >>> there were more jobs advertised in september than october. job...
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fiscal cliff discussions are obviously continuing, and the white house has lowered the amount of new revenue it is seeking from $1.6 trillion to $1.4 trillion. i want to have you listen to a sound bite from speaker boehner. >> listen, we have been reasonable and responsible in our approach to this, and we're going to continue to do that. it's time for the president to do his part. >> jennifer: i don't know if you can hear that. >> i heard it. but very quickly, we got here because of two massive tax cuts two unpaid for wars and financial recklessness on wall street and deregulation. we need to restore those upper income brackets and have an investment program to put people back to work. the fed recognizes this. and as someone in business, for me the issue is not whether i'll pay 35 or 39% next year it is whether people will have the incomes to buy the products and services we want to produce in the economy. that's where the focus ought to be. >> jennifer: all right. he is the guy that knows about california and the nation former california state treasurer and up next i don't know abou
fiscal cliff discussions are obviously continuing, and the white house has lowered the amount of new revenue it is seeking from $1.6 trillion to $1.4 trillion. i want to have you listen to a sound bite from speaker boehner. >> listen, we have been reasonable and responsible in our approach to this, and we're going to continue to do that. it's time for the president to do his part. >> jennifer: i don't know if you can hear that. >> i heard it. but very quickly, we got here...
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to avoid the fiscal cliff. and the very same christine welker joins us live from the white house. you reported this earlier today. the speaker's office is now pushing back a little bit claiming there are no parameters on what tax reform would look like. but they aren't denying what you said, are they? >> they're not directly denying it. their point is raising tax rates or keeping them low is a moot point. because they have always been opposed to raising tax rates on wealthy americas. they say it would hurt small business owners. they're calling for overall tax reform, they say. but this has evolved into a game of chicken with both sides refusing to concede anything until the other side does first. so yesterday it seemed like there was some movement. today it seems as though these negotiations are really to some extent falling apart. as you know president obama and john boehner spoke on the phone yesterday. sources on both sides are describing that phone conversation as tense in large part because of this issue
to avoid the fiscal cliff. and the very same christine welker joins us live from the white house. you reported this earlier today. the speaker's office is now pushing back a little bit claiming there are no parameters on what tax reform would look like. but they aren't denying what you said, are they? >> they're not directly denying it. their point is raising tax rates or keeping them low is a moot point. because they have always been opposed to raising tax rates on wealthy americas. they...
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. >>> washington still not seeing eye to eye ton a deal to avoid the fiscal cliff. they believe president obama will take the hikes. >> i am confident republicans would not old middle class taxes hostage to true to protect individuals. >>> the administration looking to raise taxes on those more well off than others. while they want mow am al-jazeera and this one as they try to tfly to africa to join a terrorist group. they plan to vote wage violent jihad there. he is the former roommate of the leader of the ter rits group in some mill yaw who was recently added to the fbi most wanted terrorist list. president obama making a big announcement. the united states will recognize syrian rebels as representties of that country. >> we have made a decision the syrian opposition coalition is representative enough of the syrian population but consider them representatives of assyrian people in opposition to the regime. >> the u.s. providing weapons to the rebels there. 40,000 people in the country have been killed. >> albert king rushed donna summer public enemy hart and randy
. >>> washington still not seeing eye to eye ton a deal to avoid the fiscal cliff. they believe president obama will take the hikes. >> i am confident republicans would not old middle class taxes hostage to true to protect individuals. >>> the administration looking to raise taxes on those more well off than others. while they want mow am al-jazeera and this one as they try to tfly to africa to join a terrorist group. they plan to vote wage violent jihad there. he is the...
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. >>> coming up, the fiscal cliff, the dividend tax rate, a power company ceo will tell us about his biggest concern if a deal doesn't get done by the end of the year. >>> also, what the ceo of walmart thinks about that, as well. he had really explosive data. mike duke last night. we'll bring it to you. "squawk box" is coming back. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prosta
. >>> coming up, the fiscal cliff, the dividend tax rate, a power company ceo will tell us about his biggest concern if a deal doesn't get done by the end of the year. >>> also, what the ceo of walmart thinks about that, as well. he had really explosive data. mike duke last night. we'll bring it to you. "squawk box" is coming back. what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone...
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add retailers to those worried about the fiscal cliff. a walmart survey says customers know about the impending tax increases and spending cuts. and some are cutting back on their spending for the holidays. most retailers depend on this month's sales for their success. and poor results could be disastrous for them. >>> and bank of america customers aren't happy, either. the nation's second-largest bank had its lowest satisfaction score in 11 years. the worst for any major bank, in fact. it's the only one with a grade lower than before the recession. at the other end of the spectrum, though, is jpmorgan chase, whose satisfaction score was up 6%. >>> and 2012 was on track for a record gun sales ahead of last year. the fbi has run 350,000 more of its instant background checks than in all of last year. abc news expects almost 2 million more gun checks just this month. >>> and call it easy bake backlash. a new jersey girl's campaign to make the toy more gender-neutral appears successful. 13-year-old mckenna pope says the easy bake oven should
add retailers to those worried about the fiscal cliff. a walmart survey says customers know about the impending tax increases and spending cuts. and some are cutting back on their spending for the holidays. most retailers depend on this month's sales for their success. and poor results could be disastrous for them. >>> and bank of america customers aren't happy, either. the nation's second-largest bank had its lowest satisfaction score in 11 years. the worst for any major bank, in...
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agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my colleague is prepared to close. mr. sessions: i thank the gentlewoman for asking. i have no further speakers and would allow her that opportunity and then i will close. ms. slaughter: thank you very much. mr. speaker, we should be doing one thing today and that's passing the continuation of tax cuts for the middle class. the american people couldn't be more united in this support for tax cut and there is no reason for delay. the senate has already passed the bill and we can take up now, it's here at the desk. members across the ais
agreement to avoid the fiscal cliff. but there is a consensus that we do this. so why are the republicans holding this hostage? once again, let us vote no on the previous question. let's bring this middle class tax cut up now. it is the solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from texas. mr. session: i reserve my time. the speaker pro tempore: the gentlelady from new york. ms. slaughter: i have no further requests for time, mr. speaker. i wonder if my...
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. >>> we go back to the fiscal cliff and the president's call for higher tax rates for the wealthy. republicans fighting those hikes, say that one of the victims would be america's small businesses. >> people need to call him and ask him the question are you also talking about the small business folks. >> if you look at what he's doing, as jon kyl mentioned, raising taxes on small businesses -- >> so we hear that all the time, small business, small business. but would the president's plan really take a dent out of what we think of as mom and pop shops? joining me now is glenn kesler of the "washington post" fact check. great to have you here. speaker boehner made a similar claim about small businesses recently and you guys gave him criticism on this. how many mom and pop shops could see higher taxes under the president's plan? >> it's not really a lot. in terms of -- part of the problem is the way people manipulate the data but it's only about depending how you look at it, 3% to 7% of small businesses, people would think of as small businesses, are actually -- would actually be affe
. >>> we go back to the fiscal cliff and the president's call for higher tax rates for the wealthy. republicans fighting those hikes, say that one of the victims would be america's small businesses. >> people need to call him and ask him the question are you also talking about the small business folks. >> if you look at what he's doing, as jon kyl mentioned, raising taxes on small businesses -- >> so we hear that all the time, small business, small business. but would...
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call china, let's borrow more. >> steve: so many people are fixated on the fiscal cliff and the president wants to jack up taxes on people who are successful. up to maybe about 40%. that's one of the theories out there. he'd love 40%. but a lot of people forget about the medical device tax, plus all the obamacare taxes already baked into the equation. >> it's a tax here, a tax there, a fee there, a fee here, everything goes up. medical care gets more expensive. not less expensive. >> steve: he talks about money. he talks about politics. he talks about all sorts of stuff on fox business, 9:20 eastern time. the great stuart varney, thanks for dropping by. >> thank you. >> steve: all right. now would you like to wake up to this every morning? (baby crying). >> steve: wait until you hear who is blasting the sounds of babies crying into one neighborhood. then christmas coming early for one military family. "fox & friends" giving them the surprise of a lifetime. initiated. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now compl
call china, let's borrow more. >> steve: so many people are fixated on the fiscal cliff and the president wants to jack up taxes on people who are successful. up to maybe about 40%. that's one of the theories out there. he'd love 40%. but a lot of people forget about the medical device tax, plus all the obamacare taxes already baked into the equation. >> it's a tax here, a tax there, a fee there, a fee here, everything goes up. medical care gets more expensive. not less expensive....
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. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to tease for friday, which is i am -- i got to buy the farm. get it. think we haven't heard that. >> bob: promote something? >> dana: on friday, tomorrow i'm going to vegas and i'm going to the national rodeo -- the national finals rodeo sponsored by wrangler. i went last year and i got to interview the rodeo queen. the new rodeo queen this year and talk to a few other people and chance to go to the rodeo and see my family. >> eric: that's nice. >> dana: that's it? "that's nice." >> kimberly: it sundays fun. you know how to ride a horse. >> bob: ride a bull. >> dana: we
. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to...
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immigration and tax reform post the fiscal cliff will create a legacy and may see congress doing something. >> that is why it is so important that they figure out a way to come together before the end of the year hopefully. if the environment is poisoned like it was after the stimulus, after the health care debate, the next four years will be ugh low. >> that's true. the higher number of women increases the chances. we will see. >> i saw the women here smiling. we were talking about how collaborative they were. the guys, not so much. >> we don't smile. i agree. the more women the better. i'm agreeing with you. can i say nothing? i said the more women, the better. i'm agreeing with you. the more women, the less self destructive egos and getting to a deal. do you have a problem with that. >> no,i don't. >> go with it. i give up. >> all right. still ahead, hollywood mogul joins us on set and author sebastian younger will be here. more morning joe in a moment. ♪ for over 40 years, we've brought our passion for fine coffee and espresso to people everywhere. but one place was impossible, until
immigration and tax reform post the fiscal cliff will create a legacy and may see congress doing something. >> that is why it is so important that they figure out a way to come together before the end of the year hopefully. if the environment is poisoned like it was after the stimulus, after the health care debate, the next four years will be ugh low. >> that's true. the higher number of women increases the chances. we will see. >> i saw the women here smiling. we were talking...
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to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >> well, there's certainly an economic impact. my point was just that the real issue for us is that our budget rules were designed for a different set of problems. you know, historically, movements in debt were about war and peace. you borrowed money to fight a war, you paid it off in peace time. now we're talking about the rise of the entitlement states. social security and medicare. we need different budget rules. this isn't just about a fiscal cliff. >> the demographics don't exactly help the problem either. we're in a time when the population is g
to reach a deal on the fiscal cliff. but use that debate as an economic one, says our next guest. chairman of the council of economic advisers under george w. bush and adviser to presidential candidate mitt romney. he's in new york city this morning. glenn, great to see you. >> good morning. likewise. >> what exactly does that mean? because of the context of higher taxes, and spending cuts, you would think there would be an economic impact. how can it not involve economics? >>...
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the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do corporate tax reform. so we are seeing some movement from the white house, but nothing yet from the house republicans. >> all right. john boehner just came to the microphone. he's just met with his caucus. let's see if he has anything new. >> -- the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out the day after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. our plan meets these standards. it cuts spend
the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do...
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cliff, the disastrous i ask unanimous consent sequences of our not acting, tax increases for every american taxpayer, massive cuts to defense at a time when the threats around the world are as varied and as great as we've seen in a long time. other essential programs of the federal government being affected by that. that's the last thing we need in this tepid economy with a lot of people out of work and hoping for some consensus to come together to provide a -- a long-term solution to our fiscal problem that continues to have a negative effect on our economy and more importantly, keeps people out of work. and so as that clock ticks, some are saying, well, partisanship is just too great in washington. the country's too divided. we're not going to be able to reach a consensus here in terms of how to address this problem. i disagree with that. over the last two years, and more, we have had a number of proposals brought forward on a bipartisan basis. it started with simpson-bowles, the former chief of staff to president clinton and al for a lon time, recognized asy two individuals that could ta
cliff, the disastrous i ask unanimous consent sequences of our not acting, tax increases for every american taxpayer, massive cuts to defense at a time when the threats around the world are as varied and as great as we've seen in a long time. other essential programs of the federal government being affected by that. that's the last thing we need in this tepid economy with a lot of people out of work and hoping for some consensus to come together to provide a -- a long-term solution to our...
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sloping cliff thing and apparently 3% said neither. i'm not really sure that's an option. it does kind of make sense. it looked like we were on the cusp of a compromise and we have this. >> i remained the most optimistic person in the town, but we have serious differences. the president and i have frank conversation about how far apart we are. >> one step forward and two steps back. the latest dueling counteroffers, the white house lowered tax revenue target from 1.6 trillion down to 1.4 trillion and increased cuts by $200 billion to which the gop responded by having the plan we thought looked similar to the original offer. that was helpful. let's go on where we are with the fiscal cliff. i am becoming increasingly pessimistic that we are going have a deal done by january 1st. i don't think that's the end of the world, but basically democrats and republicans are living in two realities right now. democrats feel like we won an election and we are holding ought will cards. we don't have to compromise and want to compromise. republicans a
sloping cliff thing and apparently 3% said neither. i'm not really sure that's an option. it does kind of make sense. it looked like we were on the cusp of a compromise and we have this. >> i remained the most optimistic person in the town, but we have serious differences. the president and i have frank conversation about how far apart we are. >> one step forward and two steps back. the latest dueling counteroffers, the white house lowered tax revenue target from 1.6 trillion down...
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those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making less than $200,00200,000a year, my plan won't raise your taxes one opiniony. not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes." that's what the president said. but once he got into office, president obama arranged for his health care plan to be written behind closed doors. democrats in congress passed it, and they did it strictly along party lines. this law has included more than 20 different tax increases. these tax increases amount to more than a trillion dollars over the next ten years. of those, a dozen taxes specifically targeted middle-cl
those are the tax increases that are coming regardless of what happens with the fiscal cliff. and those are the tax hikes that we're seeing because of president obama's health care law. people who have been following this closely know that president obama's health care law guarantees that middle-class families will pay higher taxes. the president promised repea repeatedly that he would not raise taxes on the middle class. as a matter of fact he said -- quote -- "if you're a family making...
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most of the debate up to now about the fiscal cliff has focused on defense cuts and expiring tax cuts. justifiable. but the ramifications for local safety nets are equally portentous. in my district, for example, fairfax county, recently kicked off its annual hypothermia prevention program. during my tenure on the county board i worked with faith, business, and community leaders to open houses of worship and other places to offer shelter from the cold and a hot meal for the homeless and individuals and families. it saves lives. last winter the program served more than 1,000 clients in one of the wealthiest districts in the united states. sequestration threatens support for this and other federal homeless prevention efforts. the mckinny-vento program prevents homelessness would be cut by as much as $156 million. you didn't hear anything about that just now. and it would leave more than 145,000 more people out in the cold at risk of dying from hypothermia. similarly families in every state rely on low-income heating assistance which stands to lose as much as $270 million in sequestratio
most of the debate up to now about the fiscal cliff has focused on defense cuts and expiring tax cuts. justifiable. but the ramifications for local safety nets are equally portentous. in my district, for example, fairfax county, recently kicked off its annual hypothermia prevention program. during my tenure on the county board i worked with faith, business, and community leaders to open houses of worship and other places to offer shelter from the cold and a hot meal for the homeless and...
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whether it's gay marriage, whether it's more salient right as the fiscal cliff where they're talking about digging their heels in to protect the one percent? their brand now is defending tax cuts for the top, very top, of our country. and, also, digging our heels in on things like gay marriage where people are now moving to the left. or on comprehensive immigration reform. or even on things like birth control that 99% of the electorate have used. it doesn't really matter what issue you're looking at. republicans are finding themselves being pulled far to the right. and part of that is whether you have folks who may challenge speaker boehner for the speakership. you also have folks that are going to primary around the country. >> let me ask this before i come out of time. one of the rising stars at the republican convention and being tallied for 2016 is chris christie, governor of new jersey. he sat down with barbara walters who began asking the hard questions he may face in 2016. listen to this. >> there are people who say that you couldn't be president because you're so heavy. what
whether it's gay marriage, whether it's more salient right as the fiscal cliff where they're talking about digging their heels in to protect the one percent? their brand now is defending tax cuts for the top, very top, of our country. and, also, digging our heels in on things like gay marriage where people are now moving to the left. or on comprehensive immigration reform. or even on things like birth control that 99% of the electorate have used. it doesn't really matter what issue you're...
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. >>> to the fiscal cliff now, leaders in washington have less than three weeks to reach a budget deal or else face automatic spending cuts and tax increases that are likely to send the country back into a recession. the agreement has been slow. president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are talking publicly about what they want. the gop pushing back against that. but privately negotiations do continue. in an exclusive interview airing on abc's "20/20" this friday night, president obama says he's optimistic a deal will be reached, and he's confident the gop won't hold the middle-class taxes hostage to protect higher income americans. >> taxes are going to go up one way or the other, and think the key is to make sure the taxes go up on higher individuals like you and me, barbara. we can afford it. >> reporter: earlier on tuesday the president and house speaker john boehner shared a phone call to discus
. >>> to the fiscal cliff now, leaders in washington have less than three weeks to reach a budget deal or else face automatic spending cuts and tax increases that are likely to send the country back into a recession. the agreement has been slow. president obama and congressional republicans remain split on raising taxes on upper middle-class americans. susan mcginnis is in washington with the latest now. susan, good morning to you. >> hi. good morning, terrell. both sides are...
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january 1st comes along, and we proverbially fall off the fiscal cliff. where will we feel it first? >> it's one thing after another. first thing is the payroll tax holiday. right away the first week you would have less money in your paycheck. people like alicia immediately would lose that check, and there's going to be 2 million people at the end of december who would lose their checks and another million by the end of the first quarter who would lose their checks according to the national employment law project. and your tax rates could go up for everyone. you could pay a higher tax rate, and guys like jeffrey sheninger have to figure out how to change that when you get paid by your company. >> effectively on january 1st we start to feel it if your employer can get their software changed. whether you see it on your check or not, it's going to be there ultimately at some point. bad news and very interesting news at the same time. >> i love her outlook about next year, though. even alicia has a promising outlook on next year. she thinks it will look bette
january 1st comes along, and we proverbially fall off the fiscal cliff. where will we feel it first? >> it's one thing after another. first thing is the payroll tax holiday. right away the first week you would have less money in your paycheck. people like alicia immediately would lose that check, and there's going to be 2 million people at the end of december who would lose their checks and another million by the end of the first quarter who would lose their checks according to the...
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rove and joe trippy were asked to give their recommendation on the fiscal cliff. >> make believe you want to get to the compromise. >> let's cap it, itemize deductions. if you cap it at $25,000, you can lower all tax rates 20%, plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. or if you do it at $50,000 cap, it gives you $800 billion. >> oh, yes, rove is still the master of make believe. but he still must be under the impression that romney won the election. there's no way president obama and the democrats are going to lower tax rates by 20%. i've got to cut him some slack, though, it's been almost a month since he's had the opportunity to lie in public. as for dick morris, he's found something to do during his fox exile. ladies and gentlemen, the dick morris launch alert. ♪ >> don't give up. that's what we'll talk about today. there's a lot that we can do. there's a lot that we have to do in order to save this country of ours. >> and i am so glad to see dick morris is still on his toes. next, dick cheney is up to his old tricks, attacking u.s.
rove and joe trippy were asked to give their recommendation on the fiscal cliff. >> make believe you want to get to the compromise. >> let's cap it, itemize deductions. if you cap it at $25,000, you can lower all tax rates 20%, plus kill the alternative minimum tax forever and still have $1.3 trillion in revenue. or if you do it at $50,000 cap, it gives you $800 billion. >> oh, yes, rove is still the master of make believe. but he still must be under the impression that romney...
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the republicans realize they lose politically if we go over the fiscal cliff, but this isn't just a political thing. the country loses economically if we go over it and then everybody is going to suffer -- >> let's go back to normal world. assume everybody is rational for five seconds. >> i can't do that. >> dana, you first. you're here in washington. and then ron. what's the game play out the next few days. i think the republicans have reached the end of the line. they're hoping obama will show his cards and come out with cuts for entitlements and then they will show something on tax cuts. >> they're begging him to show something. he has no incentive to do anything at least publicly. >> will they show their cards on tax cuts first? >> they have to. >> who is going to show their hand first? ron? >> the republicans. they're going to have to. obama can stand pat, and he's doing it right now. he can be cool hand luke. >> i think that's the way he is playing, very cool. thank you. he's going to force john boehner to come out and say what he wants done to protect the rich people or not protect the
the republicans realize they lose politically if we go over the fiscal cliff, but this isn't just a political thing. the country loses economically if we go over it and then everybody is going to suffer -- >> let's go back to normal world. assume everybody is rational for five seconds. >> i can't do that. >> dana, you first. you're here in washington. and then ron. what's the game play out the next few days. i think the republicans have reached the end of the line. they're...